Over the past decade, thousands of United States property owners have experienced the devastating consequences of such natural catastrophes as flood, fire, earthquake, wild fires and windstorm.
Combined, these catastrophic events have increased in severity and frequency, causing billions of dollars in losses and hundreds of fatalities and injuries in recent years.
Indeed, the period from 2008 to 2015 is on record as the most expensive for insured losses from convective events, which include severe thunderstorms, tornado, hail, lightning and flash flood. Windstorm losses continue to cause the most catastrophe damage; fire remains the most frequent cause for displacement; and tornadoes' share of U.S. catastrophe losses is rising rapidly.
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